On January 1, 2020, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Riverbed Inc. for an initial franchise fee of $51,000. The amount of $11,000 was paid when the agreement was signed, and the balance is payable in five annual payments of $8,000 each, beginning January 1, 2021. The agreement provides that the down payment is nonrefundable and that no future services are required of the franchisor once the franchise commences operations on April 1, 2020. Lesley Benjamin's credit rating indicates that she can borrow money at 9% for a loan of this type. Click here to view factor table. (a) Prepare journal entries for Riverbed for 2020-related revenue for this franchise arrangement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places e.g. 58,971.) Account Titles and Explanation Debit Credit Date Jan. 1, 2020 Cash 11,000 Notes Receivable 40,000 Discount on Notes Receivable Unearned Franchise Revenue